Google Won't Buy a Newspaper, Schmidt Says: FT

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Google Won't Buy a Newspaper, Schmidt Says: FT

Despite repeated protestations that it does not consider itself a media company Google actually considered buying a newspaper, CEO Eric Scmidt tells the Financial Times. But the search giant is unlikely to do so and is "trying to avoid crossing the line between technology and content."

In a (non-embeddable) – video interview available here Schmidt also dismisses the idea of micro-payments for anything other than specialized content. The Financial Times, a newspaper and web site devoted to global finance, is one of the few publications which requires a subscription to access online content. Another is the Wall Street Journal, which has said it will unveil a micro-payments plan this year to supplement its subscription model.

Schmidt said Google considered an outright investment – it was offered a 20 per cent stake in the New York Times held by Harbinger Capital Partners, an activist US hedge fund — but also weighed using its charitable arm for publishers who are considering becoming non-profit companies to stay in business.